Market Cycle VS. A Great Deal Partner Arguement

[Charlie Lehoux]

Hi Everyone, I live on the seacoast of NH and am a student at the University of New Hampshire. The seacoast market is hot right now and I'm looking to owner occupy a small multifamily home, with the help of my partner who graduated last year, near UNH as I finish up school. We are both very eager to get our first property however I don't feel as though it's the right time especially for our first purchase. My question is does the timing of the purchase matter if you find a really great deal? Or is the point of the cycle the markets in equally or more important? I understand the need for patience and future opportunities as I've learned through the stock market however we've come across a few great deals that would have cash flowed nicely but I was hesitant to pull the trigger on due to the hot market we live in and where I think it's headed. Any advice is greatly appreciated! Thanks for reading! -Charlie Lehoux

[Omar Khan]

@Charlie Lehoux It all depends on your investment criteria, goals/objectives, budget and holding period. 

E.g. if you plan on holding on to this property for 10 years and this property cash flows (with decent capital appreciation potential), then buy it. But if you plan on holding for 2-3 years and are unsure how things are going to pan out, then avoid it. 

There are no right and wrong answers because we all have different needs from our portfolio.